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Modi, Tata Boss Meet Before Airline Handover – Deccan Herald

Tata Group is expected to get full control of the airline after paying 20.7 billion rupees ($275 million) and taking over 150 billion rupees of debt


Air India aircraft stand on the tarmac at the airport in Mumbai
The Air India deal was in the making for over a year, insiders said, recounting details of the process on condition of anonymity. Photo: Reuters

 

Tata Sons chairman N Chandrasekaran met Indian Prime Minister Narendra Modi on Thursday ahead of the official handover of Air India to the conglomerate, the Deccan Herald reported.

The Tata Group is expected to take full control of the airline, founded in 1932, after paying 20.7 billion rupees ($275 million) and taking over 150 billion rupees of debt.

Read the full report: Deccan Herald

 

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.